What is a short sale? 

A short sale, or what we like to call a "Fresh Start" sale, is a sales transaction in which the seller's mortgage lender agrees to accept a payoff of less than the balance due on the loan.  Also referred to as a "short-pay"

Here's what we can do to help.

1. Save you Money:  Rather than the bank foreclosing right away, a Short Sale will allow you to stay in your home for a longer period of time without making any mortgage payments.  All the normal closing costs associated with the sale will be paid by the lender.

2. Save your credit:  The credit consequences of a foreclosure are more severe than with a short sale.  Only the late payments on the mortgage will show.  After the sale, the mortgage will be reported as "Paid," Negotiated," or "Settled."  A foreclosure can lower the score from 250 to over 300 points.  The affect of a short sale can be as brief as 12-18 months, while a foreclosure will typically affect a score for over 3 years, and will remain as a record on a credit history for 10 years or more.

3. Save your sanity:  By initiating a short sale, we may be able to stop the harassing calls from your mortgage company.

A Fresh Start sale is a Free service we provide to the homeowner.

All information deemed to be reliable but not guaranteed.  All terms of a short sale are subject to written approval from current lien holder(s).